Delivery Hero with a potential buy with the trend

Delivery Hero provides an online platform for ordering and delivering groceries, operating in over 40 countries in Europe, the Middle East, North Africa, Asia and America. The company was founded in 2011 and is headquartered in Berlin, Germany. The advantage of Delivery Hero is that management focuses its efforts primarily on working with the best restaurants in the areas in which it operates. Looking at financial performance, it seems that consumers value it a lot. For 5 years, the company has been able to increase its profits by over 50% annually, which is phenomenal.

With good financial results and well-diversified markets in which it operates, we expect the upward trend to continue to be profitable for all investors. Shares are falling right now as this healthy correction will enable us to buy at a bargain price.

The long-term trend has been tested with the price movement since the last session. Being in the short-term downtrend, the price touched the bottom trend line, but pushed back. The price remained between the diagonal support and the Fibonacci level 50. Here we might consider going in with trend purchases, but the key point is that the price will go above 50 Fibo and exit the downward channel. This will make us more confident that the upward movement will continue. We could expect the movement to continue to 38.2 Fibo and 23.6 Fibo.

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